Chinese equities tumbled on Friday, leaving the country's benchmark indexes on course for their steepest weekly decline in two-and-a-half years, amid concerns that the massive IPO of memory chipmaker CXMT could siphon off market liquidity. According to Reuters, expectations of several more large domestic IPOs in the pipeline further dampened investor sentiment, particularly in the technology sector.
Hong Kong shares also came under heavy selling pressure, led by technology stocks, as renewed tensions linked to the Iran conflict added to broader market uncertainty.
